On Nigeria's Failing CBDC and Its Hard Lesson

Web3 Tech Brief By HackerNoon

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Nigeria’s CBDC, the e-Naira, whose launch gulped millions of Naira from the nation’s coffer is in a free fall two years after it made history.
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Nigeria’s CBDC, the e-Naira, whose launch gulped millions of Naira from the nation’s coffer is in a free fall two years after it made history as Africa’s first CBDC. The e-Naira, launched in October 2021, is Nigeria’s apex bank’s policy the CBN to digitise the Naira but its failure underpins the thesis that Cash is King in Africa’s most populous nation.